Quoc Cuong Gia Lai 's project land in Phuoc Kien commune, Nha Be district, Ho Chi Minh City - Photo: QUANG DINH
Quoc Cuong Gia Lai pays 100 billion VND for project related to Ms. Truong My Lan case?
Specifically, in the Q2-2025 financial report of Quoc Cuong Gia Lai, Sunny's amount for the Phuoc Kien project decreased from VND 2,882 billion to VND 2,782 billion after 6 months, equivalent to a decrease of VND 100 billion.
QCG may have begun to pay its debt to Sunny Island Investment JSC - a business related to Ms. Truong My Lan's Van Thinh Phat Group.
Meanwhile, in the long-term unfinished assets section, the cost "poured" into the Phuoc Kien project continued to increase by 66 billion VND, from 5,360 billion VND to 5,426 billion VND after 6 months.
The report also shows that the amount payable to third parties recorded in the report is only 176.8 billion VND as of June 30, 2025, a decrease of more than 290 billion VND compared to the beginning of the year. However, the item payable to related parties suddenly increased from 179.9 billion VND to 421.9 billion VND, an increase of 242 billion VND.
According to the explanatory notes to the financial statements for the second quarter of 2025, Quoc Cuong Gia Lai Joint Stock Company recorded a loan of VND 130.5 billion from Mr. Lau Duc Duy, which arose in this quarter. Previously, the loan from Mr. Duy did not appear in the report at the end of the first quarter of 2025.
At the same time, QCG also increased the loan size from Ms. Lai Thi Hoang Yen - from 6.5 billion VND at the end of the first quarter to 106.9 billion VND at the end of June 2025.
Thus, Mr. Duy and Ms. Yen alone have disbursed more than 230 billion VND in loans to QCG.
Several other individuals and organizations also extended their loan limits to the company, including Mr. Lai The Ha (VND42.5 billion) and LYN Property Joint Stock Company (VND44.1 billion).
Meanwhile, the loans from Mr. Nguyen Quoc Cuong and Ms. Nguyen Ngoc Huyen My remain the same, at 30 billion VND and 50 billion VND respectively.
In fact, the lenders are mainly company leaders or family members. Specifically, Mr. Lai The Ha is the Chairman of the Board of Directors, and Ms. Lai Thi Hoang Yen is Mr. Ha's daughter.
Mr. Nguyen Quoc Cuong, the company's general director, is Ms. Nguyen Ngoc Huyen My's brother. Mr. Lau Duc Duy is Ms. My's husband. Ms. My is also the legal representative of LYN Property Joint Stock Company.
Quoc Cuong Gia Lai returns to profit after losses
Regarding business performance, net revenue in the second quarter reached VND131 billion, nearly 5 times higher than the same period last year. The main growth driver came from the real estate sector, with revenue contribution of more than VND97 billion - an increase of 47 times compared to the same period last year.
In addition, electricity and goods sales activities also recorded positive signals, contributing to total revenue in the period.
QCG's gross profit this quarter reached VND49.5 billion, thanks to cost of goods sold increasing slower than revenue.
After deducting operating expenses and corporate income tax, QCG recorded a profit after tax of VND2.5 billion, positive compared to a loss of VND17.2 billion in the same period last year.
Accumulated in the first 6 months of 2025, QCG recorded revenue of VND 242.6 billion and profit after tax of VND 10.7 billion.
As of June 30, 2025, Quoc Cuong Gia Lai's total assets reached VND 9,485 billion, up 6.7% compared to the beginning of the year. Of which, cash and cash equivalents were VND 55 billion.
Currently, the heaviest "burden" among other short-term payables of Quoc Cuong Gia Lai is the amount of 2,882 billion VND - money received from Sunny for the Phuoc Kien project.
According to the court's verdict in the case of Ms. Truong My Lan, Quoc Cuong Gia Lai will have to pay back this money.
Source: https://tuoitre.vn/hai-dai-gia-moi-cho-quoc-cuong-gia-lai-vay-230-ti-dong-la-ai-20250801211033333.htm
Comment (0)